RATCH Group Public Company Limited (SET: RATCH) has informed the Stock Exchange of Thailand that as the company had signed a Share Purchase Agreement with Nexif Energy Thailand B.V. to purchase 49 percent of ordinary shares of Nexif RatchEnergy Singapore Pte. Ltd. (NRES) (formerly known as NER Singapore Pte. Ltd.; a company registered in the Republic of Singapore) on 12 March 2020.
Afterwards, on 20 December 2022, RH International (Singapore) Corporation Pte. Ltd. (RHIS) (RATCH’s wholly-owned indirect subsidiary) had achieved conditions under Share Sale Agreement with Denham Capital Management LP and Nexif Energy Management Pte. Ltd. to invest in Nexif Energy Holding B.V. (NEHBV) who held 51 percent of shares of NRES.
As a result, RATCH became a shareholder of NRES both directly and indirectly through RHIS at 100 percent. Additionally, RATCH announced that NRES has already registered its dissolution on 31 December 2024, and is now in liquidation process.
The dissolution of NRES is a part of the process to restructure the investment structure to increase overall operational flexibility, which does not affect the Company’s operations by any means.
